Decoding how Litecoin managed to break the norm in a bearish market

📆 18/05/2023 05:33 p. m.
📰 CryptoAmb

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Litecoin Foundation revealed that the Litecoin network was processing nearly one million transactions every two days. Market indicators also remained bullish on LTC.

registered a decline at the beginning of May. However, the scenario has now changed as the graph has moved up, indicating an influx of new miners.

The increase in hashrate can be attributed to the uptick in miners’ fees. The rise in fees coupled with more transactions and price gains could lure in more miners.A major driving force behind the price pump could be the hype around Litecoin’s upcoming halving. The next halving is scheduled to happen in 69 days from the time of this writing.’s price goes up. Therefore, the possibility of this hype fueling LTC’s pump also seemed pretty likely.

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